Welcome to our dedicated page for LendingTree news (Ticker: TREE), a resource for investors and traders seeking the latest updates and insights on LendingTree stock.
LendingTree, Inc. (NASDAQ: TREE) is a premier online loan marketplace designed to simplify the financing process for consumers in the United States. Headquartered in Charlotte, NC, LendingTree offers a broad array of financial products through its extensive network of over 500 financial partners. The company's primary offerings include home loans, personal loans, auto loans, credit cards, student loans, small business loans, and insurance products.
Founded with the goal of providing consumers with competitive loan options, LendingTree allows users to complete a single online loan request and receive multiple real offers from various lenders. This transparent approach enables users to compare and select the offer that best fits their financial needs. The company operates three main segments: Home, Consumer, and Insurance.
Recent achievements highlight LendingTree's robust leadership and growth. In 2023, Scott Peyree was appointed Chief Operating Officer and President of Marketplace Businesses. Under Peyree’s leadership, the company has seen enhanced operational efficiencies and strategic growth, particularly within its insurance vertical.
Financially, LendingTree has demonstrated resilience amid challenging economic conditions. In the third quarter of 2023, the company reported an Adjusted EBITDA of $22 million, achieving an EBITDA margin of 14%. This success is attributed to disciplined expense management and strategic operational improvements.
LendingTree's latest innovation, the LendingTree Spring app, launched in 2024, underscores the company's commitment to financial wellness. The app is designed to help users cultivate smart money habits, providing them with personalized financial strategies to manage their credit health and finances effectively.
In March 2024, LendingTree secured up to $175 million in financing from Apollo Funds, strengthening their financial position and enabling further innovation across their product offerings. The company continues to focus on profitability and growth, with strong performance in the insurance segment and stable conditions in the consumer lending space.
LendingTree continues to adapt and navigate the economic landscape, using advanced analytics and proprietary systems to optimize marketing strategies and match consumers with the best financial products available. For more information, visit www.lendingtree.com.
LendingTree, Inc. (NASDAQ: TREE) will announce its fiscal third-quarter 2021 results on October 28, 2021, at 7:00 a.m. ET, with a shareholder letter available on their website. A conference call is scheduled for 9:00 a.m. ET on the same day. Participants can dial in five minutes prior to the start. A replay of the call will be accessible from 12:00 p.m. ET on October 28 until 12:00 p.m. ET on November 5, 2021.
According to a recent LendingTree report, interest in store credit cards has hit a three-year low, with only 29% of consumers likely to apply this holiday season, down from 44% in 2020. Debt associated with store cards also decreased significantly, with just 33% of cardholders reporting debt, compared to 49% last year. While average APRs remain high at 24.27%, store cards are still preferred over buy now, pay later options (29% vs. 21%). Notably, 42% of consumers have closed a store card, primarily due to high interest rates and cessation of shopping at these retailers.
This week marks the start of the official NFL season, with full-capacity stadiums allowing fans to return to in-person events. A survey by LendingTree reveals that 67% of Americans plan to spend money on football season-related items, such as food and drinks (26%) and streaming services (22%). Notably, 51% hope to attend live games, with an expected $1,000+ expenditure from 27% of fans. However, 25% may incur credit card debt due to these expenses. This season reflects a pent-up desire for social engagement after last year's restrictions.
LendingTree conducted a survey revealing that over 40% of Americans cried about their financial situations during the COVID-19 pandemic. The primary cause was job or income loss (42%), followed by affordability concerns (33%) and debt issues (31%). Notably, women (55%) were more likely than men (29%) to cry about money. However, some consumers reported 'happy cries' due to stimulus checks (26%) and paused student loan payments (9%). The survey, conducted with 2,050 participants, highlights the emotional toll of the pandemic on financial well-being.
LendingTree's 2021 Back-to-School Shopping Survey reveals significant financial challenges for families. 33% of parents with school-age children expect to incur debt, up from 26% in 2019. The average back-to-school expenditure is projected at $498, with 29% struggling to afford necessary supplies. Hybrid learning is particularly costly, averaging $775, leading 42% to anticipate debt. Additionally, 35% of parents face higher costs due to pandemic-related supply list changes. 63% of parents do not plan to use credit for these purchases, missing potential rewards.
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